SCHEDULES

SCHEDULE 2 AMENDMENTS OF STATUTORY PROVISIONS IMPOSING TRUST FOR SALE

Intestacy

5

1

Section 33 of the M1Administration of Estates Act 1925 (implied trust for sale on intestacy) is amended as follows.

2

For subsection (1) substitute—

1

On the death of a person intestate as to any real or personal estate, that estate shall be held in trust by his personal representatives with the power to sell it.

3

In subsection (2), for the words from the beginning to “pay all” substitute—

2

The personal representatives shall pay out of—

a

the ready money of the deceased (so far as not disposed of by his will, if any); and

b

any net money arising from disposing of any other part of his estate (after payment of costs),

all

4

In subsection (4), for the words from “including” to “retained” substitute “ and any part of the estate of the deceased which remains ”.

5

The amendments made by this paragraph apply whether the death occurs before or after the commencement of this Act.